Promotion Conversion - Tips & Tricks

Why you should use your phone

We recommend completing all your bets on your phone and using cellular data when possible. There’s a few reasons for this:

Some sportsbook sign up offers are limited to one per household/IP address. If you share an address with someone else who is matched betting, its best to use your phone with cellular data to avoid not qualifying.
Sportsbook websites are horrible. The sportsbooks are primarily focused on improving user experience on mobile, and the effects are very noticeable. It is not uncommon for websites to freeze, log you out randomly, and generally not function at all. These issues are non-existent on mobile.
Geolocation - this is a big one. Downloading geolocation plug ins on your laptop can be a huge pain, and they only seem to work half the time. The mobile apps use your phones built in location services and function as intended.

Selecting Hedge Books

Selecting the right hedge books can save you a lot of time and frustration. Our favourite books at SmartStake are:

Pinnacle
Fanduel
The Score
Bet99
ESPN Bet
Betano (mobile only)

The main reason that we like these books as hedges is that they all have the option to view the max allowable bet size before your place your bet. This will give you confidence that your hedge bet will always be accepted, and you will never have to cash out your promotion bet.

Finding out the maximum allowable bet size is as easy as opening the bet slip, and either:

Looking for a "max" button - you can find these on Pinnacle, Bet99, and Betano (Mobile), Fanduel and ESPN Bet.

Type in a large wager amount ($99,999) and look for an error message that says something along the lines of "your wager exceeds the max stake limit of ______"

If there are no good hedge bets with one of the recommended books, try to stick with the large and well-known bookmakers (BetMGM, Draftkings) that have the option to cash out your bet. The larger the bookmaker, the more likely that they will accept your action.

Which bet to place first

When converting promotions, the order in which you place your bets can be crucial. This is primarily due to the varying sizes of betting markets and the risk of having one bet accepted while the other is rejected. Smaller markets, such as total points for a lesser-known player, often have lower betting limits. When attempting to convert large promotions, your bet might not go through on these smaller markets. If one sportsbook accepts your bet but the other limits you due to market size, you could be left with an unhedged position – a situation we want to avoid at all costs.

To minimize these risks, here's a strategy for deciding which bets to place first:

Books with Cashout Option: Always place your bet first on the book that offers a cashout option. If the opposing bet doesn't go through, you can simply cashout and try another matched bet. Remember to check the sportsbook's site to confirm if they offer cashout. Note that this applies only to the hedge book when converting free bets, as free bets typically can't be cashed out once placed.
Books with Max Bet Display: Some books, like Pinnacle, Bet99, and Betano, show the maximum allowed bet size. If the max bet is larger than your required bet, you can be confident it will be accepted. In this case, place your bet on the book without the max bet option first. If it's accepted, you can then confidently place the second bet within the displayed max bet limit.
Larger vs. Smaller Books: If neither book offers cashout or displays max bets, bet on the smaller book first. Smaller books are less likely to accept large bets. If the bet fails, move on to another matched bet opportunity. While we don't have exact rankings, popular books like BetMGM, FanDuel, Draftkings and Pinnacle generally accept larger bets, so place bets on these second. Pinnacle, in particular, is known for accepting large bets.

By following this order of operations, you can minimize the risk of unmatched bets and ensure smoother promotion conversions. Remember, the goal is to avoid situations where one bet is placed and the other is rejected, leaving you exposed to potential losses.

Avoiding Limits

Avoiding limits forever is impossible. Eventually the sportsbooks will catch on that you are making a lot more than you are losing and stop taking your action. However, there are some things we can do to avoid detection as long as possible:

Always round your bets. The SmartStake tools automatically display bets rounded to the nearest 5 (ie. $250 instead of $248.94). This means you will make a few dollars less on every bet, but you will look much more like a normal bettor (no one bets $100.43).
Stick to main lines for large bets. The SmartStake promo converter will automatically apply main line filters on any bet above $500. It is much less suspicious to bet large amounts on lines that the sportsbook is actively pushing.
Stick to large markets. Betting thousands of dollars on a Korean high school basketball league is a great way to let sportsbooks know you’re not an average gambler. The largest markets are moneyline, total points, and spread for any professional sport.
Don’t bet obvious mistake lines. If you come across a line that is a heavy favourite but is priced at +1500, that is almost certainly a mistake on the sportsbook side and will result in limits. Sportsbooks even have policies that allow them to deny payouts on lines that were “obvious mistakes”.
Don’t bet on events 7 days out. Try and keep your bets to events happening the same or the following day.
Keep withdrawals to a minimum. Leave money on sportsbooks when you can as your bankroll grows. Pulling out your winnings directly after completing a sign up promotion is a red flag.
Take random lowhold bets. If you’re only betting when there are promotions, the sportsbooks will eventually give up on turning you into a losing gambler. Place the occasional lowhold when you don’t have any profit to gain.

Sticking to these rules may mean leaving a few profit percentage points on the table, but this will be outweighed by the gains you get from keeping your accounts healthy.

Managing Deposits & Withdrawals

As a rule of thumb, sportsbooks will make it as easy as possible for you to deposit money, and as hard as possible for you to take it out. We generally want to minimize the amount of withdrawals we need to make. Here are the best practices to minimize common pain points:

Deposits

Use a DEBIT CARD to complete your deposits. Speed is important when matched betting - the odds of bets are always changing. We don’t want to use a slow deposit method (like e-transfer or wire transfers) only to find that the odds of our bet have changed by the time we receive the money. Debit transaction are instant. Credit card transactions should generally be avoided as deposits will trigger cash advance fees.
Increase your transaction limit with your bank. It’s not uncommon to transfer a few thousand dollars a day when matched betting - give your bank a call and raise your transaction limits wherever possible.
Don’t deposit more than you need to. Many sportsbooks have a policy that any deposited funds need to be wagered before they can be withdrawn to cover transaction fees. We can always deposit if needed.

Withdrawals

Try to keep withdrawals to a minimum. This will save you time and reduce your likelihood of getting limited. Sportsbook withdrawals can take up to 5 business days, but most will settle within 24 hours.
Have access to your bank statements - some sportsbooks require you to verify your bank information when you request a withdrawal.

Which Markets should I Pick

There are three main types of markets: main, player, and alternative (alt). Main markets, like moneylines and spreads for major sports, are more popular and support larger bets. These markets are ideal for bigger wagers because they have higher bet limits, reducing the risk of rejection or unmatched bets.

While player and alt markets might offer higher conversion percentages, they typically have lower bet limits. Betting large amounts on niche markets, like a bench player’s assist total, increases the risk of unhedged bets. To avoid this, always check the max bet before placing a wager, or stick to main markets for larger bets.

For this reason, our promo recommender automatically restricts bets over $500 to main markets, ensuring smoother, safer betting experiences. This is just a recommendation—feel free to adjust the filters to suit your preferences. However, if you do, be sure to check the max bet limit to mitigate your risk of placing unhedged bets.